Parkway Q1 net income $2.4M ($0.43/share); total assets cross $1B

Skyline Bankshares, Inc.

Net income $2.4M vs $1.8M YoY; diluted EPS $0.43 vs $0.31 (+38.7% increase attributed to earnings and share repurchases).
Total assets reached $1.0B, up $11.6M from Dec 2021; core loans grew annualized 16% excluding SBA-PPP.
Net interest margin 3.53% vs 3.70% YoY; interest income $8.5M vs $8.1M; interest expense on deposits down 35%.
Deposits $921.1M, up $22.9M (+2.55%) in Q1; opened second Hickory, NC branch in Feb 2022.
Nonperforming loans to total loans 0.23%; allowance for loan losses 0.83%; book value per share $14.12.

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